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En komplett guide till B2B Multitouch Attribution Models

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A Complete Guide To B2B Multitouch Attribution Models

Executives have always desired a “single source of truth” to measure marketing effectiveness and avoid wasted ad spending.

John Wanamaker famously said, “Half the money I spend on reklam- is wasted; the trouble is I don’t know which half.”

While today’s data-driven marketers have untold access to data and metrics, the question is still as valid today as it was in John’s day

Which marketing activities contribute to the bottom line – and which ones do not?

Each online platform – be it Instagram, Facebook ads, Google Ads, LinkedIn, or YouTube – wants you to spend more money with it.

But it is not always possible to gain the full picture of accurate marketing performance.

Thankfully for us marketers, multi-touch (or multi-funnel) attribution may be the solution.

A multi-touch attribution model (MTA) enables you to understand each touchpoint’s role in creating a new customer.

This shows you what to leverage to boost performance and hit growth targets.

That’s why it is so important to gain a complete picture since every touchpoint a customer has with your brand can influence their decision to convert.

Once you understand which touchpoints result in conversions, you can better allocate your budgets to similar touchpoints in the future and reduce funds from less effective ones.

First, How Does Multi-Touch Attribution Work?

Multi funnel attribution – also known as multi-touch attribution – is a way to measure conversions.

It considers every touchpoint in the customer marketing journey and gives tribute to each channel to show the value of each touchpoint.

The challenge most marketers face is which channel or touchpoint to credit and how much to credit each touchpoint for the conversion.

In the graph showing a customer journey above, should the Facebook ad (first touchpoint) get all the credit, the Google paid-search ad (last), or all of them?

We’ll take you through all the attribution models to better understand how you could shape your measurements.

What Is Multi-touch Attribution?

Multi-touch attribution models refer to those that evaluate and weigh the impact of several touchpoints, not all attribution models.

As a result, they only consider the first or last touchpoint encountered before a conversion rather than every touchpoint encountered throughout the sales cycle.

What Multi Funnel Attribution Is Not

An easy way to understand multi-touch attribution is to compare it with other attribution models.

It Is Not First-Touch Attribution

Under the first-touch attribution model, the initial marketing touchpoint of a campaign before a closed sale is given full credit for the sale. This is where awareness marketing campaigns get credit for triggering a sale at the top of the funnel.

This may be useful for niche situations, but it gives no attention to the middle or bottom of the funnel activities.

However, this can be useful as companies prepare themselves for when there are no 3rd party cookies in the future, and other metrics – such as the first point of contact – need to be tracked.

It Is Not Last-Touch Attribution

In this model, the final touchpoint that has been interacted with before a closed lead is given full sales credit.

Last-touch attribution seems to be used more frequently than first-touch.

This attribution method is primarily concerned with the end stage of the customer journey and doesn’t focus on top or mid-funnel activities.

Why Adopt A Multi-touch Attribution Approach For B2B Marketing

Since you sell to companies, not individuals, you need more of an account-based attribution model rather than focused purely on the individual.

While some B2B transactions are conducted as B2C transactions, most B2B attributions need you to consider the many stakeholders in your buying journey to the account level.

These stakeholders are responsible for determining whether the company will buy from you.

Companies, Not Individuals

It is easy to lose sight that B2B means that you sell products or services to companies, not individuals.

The buying process includes users, decision-makers, stakeholders, and other advisers, but ultimately a company has to decide whether to pay another company for its solutions.

However, account-level or not, their journey will mirror the consumer’s.

Your brand and product are still going to be researched and engaged across all your different channels, including:

  • Website.
  • Live chat.
  • Email.
  • Phone calls.
  • Review sites.
  • Your product’s free trial.
  • Social media.

Organized Data, Better Strategies

All of this data is difficult to organize, understand, and build a useful attribution model without structured thinking.

That is why a multi-touch attribution model, which provides a more granular, human-centric view of a campaign than traditional methods such as media mix modeling, is becoming more important for marketers.

In addition to providing visibility into the success of touchpoints across the customer journey, multi-touch attribution offers many other benefits.

It is crucial to utilize data-driven marketing to use the right channel to meet consumers at the right time, as consumers are becoming increasingly adept at avoiding marketing messages.

Multi-touch attribution makes this possible, which provides marketers with granular data to identify audiences across channels and determine their specific marketing goals.

Return On Investment

Multi-touch attribution models can help marketers improve the consumer experience and help them increase the return on their marketing expenditures by revealing where their money is being spent most and least effectively.

This supports a shorter, more effective sales cycle by presenting consumers with more impactful marketing messages.

Quick Overview Of The Types Of Multi-Touch Attribution Models

In multi-touch attribution, each touchpoint engages with the customer before conversion – the difference is the amount of credit attributed to each touchpoint. These models can either be adopted as is or modified to create custom models.

Linear Multi-touch Attribution Model

When you use a linear attribution model, each touchpoint in the buyer’s journey receives the same amount of credit for driving the sale. While this type of attribution considers all touchpoints in the buyer journey, it weighs each equally.

Although linear attribution improves first or last touch attribution, it still leaves a lot to be desired as all touchpoints don’t equally impact consumers.

U-shaped Multi-Touch Attribution Model

Based on the U-shaped multi-touch attribution strategy, 40% of value is attributed to the initial and last contact, and 20% goes to the subsequent touchpoints.

It provides your team with a clear picture of where the customer’s journey has begun, and where the journey ends.

Because this attribution model considers that not all touchpoints are equal, it is more reflective of how marketers value touchpoints intrinsically.

This is because it gives gravitas to the starting and ending campaigns.

Even so, it doesn’t meet all of the customer’s journey requirements due to its simplistic viewpoint.

Time Decay Multi-touch Attribution

This model gives a larger share of credit to customer touchpoints closer to conversion.

Although it gives some credit to touchpoints in the top and middle of the funnel, this article focuses primarily on touchpoints at the end of the marketing funnel.

The time decay model emphasizes touchpoints that directly lead to conversions and ignores awareness-based touchpoints.

While conversions are critical to ensuring your business is profitable, downplaying the first touchpoint is not perfect for all marketing teams.

The W-Shaped Multi-Touch Attribution Model

The W-shaped model is responsible for assigning credit of 30% at the first touch, mid-way (lead creation), and final (conversion) touchpoints.

The remaining 10% is equally split between additional engagements.

This model is ideal when there is a clearly defined “opportunity creation” stage in the journey.

And, while this is a massive improvement on the “one or none” approach, it is not always the best model for marketing teams to accurately attribute conversions.

Full Path Multi-Touch Attribution Model

This model – commonly used in B2B spaces – is quite detailed and complex.

Similar to the W-shaped multi-touch attribution, it has the addition of the lead creation touchpoint.

This notes the moment that a marketing lead becomes a qualified lead.

Here, 22.5% of the credit is attributed to the first touchpoint and generering av leads, opportunity creation, and sale touchpoint, with the remaining 10% spread among the leftover touchpoints.

It is useful because it gives a granular view of the customer’s journey from start to finish.

So granular, in fact, that it may not be the best choice for B2C companies or those with low-involvement purchases.

Tailored Multi-Touch Attribution Model

The company itself designs this model.

It allows marketers to base value per touchpoint against their own parameters.

This is ideal for those who want to get the most from multiple models.

It can be difficult to put all the benefits of bespoke attribution together.

You may need to invest in software and attribution modeling experts to tailor your attribution strategy properly.

How To Deploy Multi-funnel Attribution For B2B

This can be a daunting task, but here are the steps we use to roll out a multi-touch attribution model.

Identify The Models And KPIs

Choose the attribution models that suit your organization best. Consider the length of the sales cycle, the types of campaigns, and the level of detail required. Then, identify the key metrics to measure success or failure.

Bring The Team Onboard

Your in-house team may need to bring on some external marketing analysts and strategists to get this job done. Internal finance and creative teams will also need to understand how data will drive campaigns going forward.

Setup Tracking

Start here:

  • Collect the data. Who is visiting your site, how did they get there, and did they convert?
  • JavaScript, where you add code to your website’s pages to understand who is interacting with your site and how. This includes samtalsspårning such as page views, user activity, user identity, and traffic source.
  • UTMs are custom URLs that allow you to track campaign-specific clicks and actions. UTMs can be integrated with the JavaScript calls to get a clearer, more accurate image of your user. In addition to maximizing insights, it enables B2B performance marketers to optimize spending, campaigns, and ROAS by stamping UTM attributes at the account level for website visitors. When used in conjunction with account-based retargeting ads, this has the potential to leverage massive growth.
  • APIs can be integrated with your CRM system, external reklam- vendors, and third-party software that have unique ways of identifying your users.
  • Combine the data. To turn this raw data into useful insights, you need a place to store it, such as a central, secure data warehouse.
  • Visualize the data. It is important to transform this data into graphs and charts that non-analytic stakeholders will find easier to understand. There are many vendors available who can do this for you.
  • Invest in analytics software. If your attribution models are complex, it is best to implement analytics software that is advanced enough to work with your models. This will standardize and correlate the spans of raw data into reports that offer insights. Ideally, it will highlight consumer motivation, such as strong brand equity, compelling campaign creatives, etc.
  • Apply insights and remodeling. Once you have collected and cleaned the data, use it to try and predict what might come based on past observations. Those insights can be translated into campaign improvements right away.
  • Optimize and test. Tracking and testing are never done. Embrace a culture of continually evaluating your MTA data and testing campaigns to improve results.
  • A/B-testning: Tools like Google Optimize, Optimizely, or your strategic marketing partner make it easy to change campaigns to see what audiences prefer.
  • Server-side testing: Growing in popularity for channels like SEO if other methods aren’t working.
  • Geo experiments: For channels that cannot be A/B tested (such as TV), splitting campaigns by geographical region is useful to see the impact of the marketing on sales.
  • Deprivation testing: Quite simply, switching the ad off and then on again to see its impact on sales and conversions.

Is MTA The Same As Multi-Channel Attribution?

Quite simply – no. Multi-channel attribution allocates credit according to channel (social reklam-, paid search, organic SEO, etc.). It does not take into account specific touchpoints, messaging, or sequences.

While multi-touch attribution does factor in the channel, it is more granular in that it zooms in on each of the ads, their creatives, messaging, sequencing of interaction, and so on.

How Do We Know If We Need Multi-Touch Attribution?

It is best to apply MTA to campaigns that pivot on digital spending and that need to link an individual to a specific marketing event.

This could be email or online paid reklam- that spans multiple channels and devices.

If your campaigns require this level of insight, then MTA is a good fit for you.

Slutsats

Multi-touch attribution allows B2B marketers to respond more rapidly to changes in their target audience and greater market.

The granular understanding they are given at an account level of which elements of their campaigns are working – and those that are not –  means they can be flexible, agile, and competitive.

They have clarity into every touchpoint on the B2B customer journey, empowering marketing teams to make better data-backed decisions going forward.

Remember, B2B marketing attribution isn’t so much about budget as what marketing teams are doing.

Finding the right attribution model is imperative to success.

If yours is not supplementing your strategy with useful data, it will negatively impact your performance.

Every dot of data, every graph, and report should give you more insights into your ideal customer and their typical behavior.

As modern B2B marketers, we must have multiple weapons in our digital arsenal.

This will bring clarity to data chaos and give the organization an edge that will help them forge ahead with confidence.

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Featured Image: MaximP/Shutterstock

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En omfattande guide till marknadsföringsattributionsmodeller

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A Comprehensive Guide To Marketing Attribution Models

We all know that customers interact with a brand through multiple channels and campaigns (online and offline) along their path to conversion.

Surprisingly, within the B2B sector, the average customer is exposed to a brand 36 times before converting into a customer.

With so many touchpoints, it is difficult to really pin down just how much a marketing channel or campaign influenced the decision to buy.

This is where marketing attribution comes in.

Marketing attribution provides insights into the most effective touchpoints along the buyer journey.

In this comprehensive guide, we simplify everything you need to know to get started with marketing attribution models, including an overview of your options and how to use them.

What Is Marketing Attribution?

Marketing attribution is the rule (or set of rules) that says how the credit for a conversion is distributed across a buyer’s journey.

How much credit each touchpoint should get is one of the more complicated marketing topics, which is why so many different types of attribution models are used today.

6 Common Attribution Models

There are six common attribution models, and each distributes conversion value across the buyer’s journey differently.

Don’t worry. We will help you understand all of the models below so you can decide which is best for your needs.

Note: The examples in this guide use Google Analytics 4 cross-channel rules-based models.

Cross-channel rules-based means that it ignores direct traffic. This may not be the case if you use alternative analytics software.

1. Last Click

The last click attribution model gives all the credit to the marketing touchpoint that happens directly before conversion.

Last Click helps you understand which marketing efforts close sales.

For example, a user initially discovers your brand by watching a YouTube Ad for 30 seconds (engaged view).

Later that day, the same user Googles your brand and clicks through an organic search result.

The following week this user is shown a retargeting ad on Facebook, clicks through, and signs up for your email newsletter.

The next day, they click through the email and convert to a customer.

Under a last-click attribution model, 100% of the credit for that conversion is given to email, the touchpoint that closed the sale.

2. First Click

The first click is the opposite of the last click attribution model.

All of the credit for any conversion that may happen is awarded to the first interaction.

The first click helps you to understand which channels create brand awareness.

It doesn’t matter if the customer clicked through a retargeting ad and later converted through an email visit.

If the customer initially interacted with your brand through an engaged YouTube view, Paid Video gets full credit for that conversion because it started the journey.

3. Linear

Linear attribution provides a look at your marketing strategy as a whole.

This model is especially useful if you need to maintain awareness throughout the entire buyer journey.

Credit for conversion is split evenly among all the channels a customer interacts with.

Let’s look at our example: Each of the four touchpoints (Paid Video, Organic, Paid Social, and Email) all get 25% of the conversion value because they’re all given equal credit.

4. Time Decay

Time Decay is useful for short sales cycles like a promotion because it considers when each touchpoint occurred.

The first touch gets the least amount of credit, while the last click gets the most.

Using our example:

  • Paid Video (YouTube engaged view) would get 10% of the credit.
  • Organic search would get 20%.
  • Paid Social (Facebook ad) gets 30%.
  • Email, which occurred the day of the conversion, gets 40%.

Notera: Google Analytics 4 distributes this credit using a seven-day half-life.

5. Position-Based

The position-based (U-shaped) approach divides credit for a sale between the two most critical interactions: how a client discovered your brand and the interaction that generated a conversion.

With position-based attribution modeling, Paid Video (YouTube engaged view) and Email would each get 40% of the credit because they were the first and last interaction within our example.

Organic search and the Facebook Ad would each get 10%.

6. Data-Driven (Cross-Channel Linear)

Google Analytics 4 has a unique data-driven attribution model that uses machine learning algorithms.

Credit is assigned based on how each touchpoint changes the estimated conversion probability.

It uses each advertiser’s data to calculate the actual contribution an interaction had for every conversion event.

Best Marketing Attribution Model

There isn’t necessarily a “best” marketing attribution model, and there’s no reason to limit yourself to just one.

Comparing performance under different attribution models will help you to understand the importance of multiple touchpoints along your buyer journey.

Model Comparison In Google Analytics 4 (GA4)

If you want to see how performance changes by attribution model, you can do that easily with GA4.

To access model comparison in Google Analytics 4, click “Reklam” in the left-hand menu and then click “Model comparison” under “Attribution.”

Screenshot from GA4, July 2022

By default, the conversion events will be all, the date range will be the last 28 days, and the dimension will be the default channel grouping.

Start by selecting the date range and conversion event you want to analyze.

GA4 model comparison_choose event and date rangeScreenshot from GA4, July 2022

You can add a filter to view a specific campaign, geographic location, or device using the edit comparison option in the top right of the report.

GA4 Model comparison filterScreenshot from GA4, July 2022

Select the dimension to report on and then use the drown-down menus to select the attribution models to compare.

GA4 model comparison_select dimensionScreenshot from GA4, July 2022

GA4 Model Comparison Example

Let’s say you’re asked to increase new customers to the website.

You could open Google Analytics 4 and compare the “last-click” model to the “first-click” model to discover which marketing efforts start customers down the path to conversion.

GA4 model comparison_increase new customersScreenshot from GA4, July 2022

In the example above, we may choose to look further into the email and paid search further because they appear to be more effective at starting customers down the path to conversion than closing the sale.

How To Change Google Analytics 4 Attribution Model

If you choose a different attribution model for your company, you can edit your attribution settings by clicking the gear icon in the bottom left-hand corner.

Open Attribution Settings under the property column and click the Reporting attribution model drop-down menu.

Here you can choose from the six cross-channel attribution models discussed above or the “ads-preferred last click model.”

Ads-preferred gives full credit to the last Google Ads click along the conversion path.

edit GA4 attribution settingsScreenshot from GA4, July 2022

Please note that attribution model changes will apply to historical and future data.

Slutgiltiga tankar

Determining where and when a lead or purchase occurred is easy. The hard part is defining the reason behind a lead or purchase.

Comparing attribution modeling reports help us to understand how the entire buyer journey supported the conversion.

Looking at this information in greater depth enables marketers to maximize ROI.

Got questions? Let us know on Twitter eller Linkedin.

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Featured Image: Andrii Yalanskyi/Shutterstock



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